PARIS – French retailer Carrefour says it will invest 2.8 billion euros ($3.4 billion) over the next five years in online shopping as part of a plan aimed at boosting its growth that also will result in 2,400 job cuts.
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Europe’s biggest retailer said in a statement Tuesday that the job cuts will be implemented through voluntary departures. The positions being cut are at its French headquarters near Paris, where 10,500 people work.
CEO Alexandre Bompard, who took the helm in July, wants to step up investment in e-commerce in a bid to be able to compete with Amazon.
The group also aims to improve its performance in China through partnerships with local internet giant Tencent and grocer Yonghui.
